Grandall to expand its presence to Northern Europe by collaboration with Magnusson and launching of a new office in Sweden
On 17 November 2016, Mr. LEE Chun, Founding and Executive Partner of Grandall, Mr. Henry Huang, Managing Partner of Grandall Shanghai, and Ms. JIE Mei, head of the preparation team of Grandall Stockholm, made discussions with representatives of Magnusson for the proposed cooperation. Thereafter, both sides entered into a Memorandum of Understanding on the strategic cooperation between Grandall and Magnusson (the “MOU”).
Grandall and Magnusson have many things in common in respect of global presence, service targets and firm culture. In the future, the two firms will enter into full cooperation in various business areas and will gradually further their cooperation through regular business communication, business referrals, seminars, senior management visits and exchange of lawyers.
Through cooperation with Magnusson, Grandall gains access not only to Sweden and the Nordics, but to the entire Baltic Sea Region, and Central Eastern Europe, in particular Poland, CEE’s biggest market, with Warsaw being the firm's second largest office.
Both firms will devote themselves to building a seamless legal service platform to bridge China and the Baltic Sea Region countries.
Mr. LEE Chun, Founding and Executive Partner of Grandall, said that Grandall and Magnusson had established mutual trust and good relation between them through years of service cooperation, and the execution of the MOU would certainly further the cooperation between the two firms.
Mr. Per Magnusson, Senior Partner and Founder of Magnusson, expressed his congratulation on the execution of MOU and placed high expectation on the future win-win cooperation between the firms.
With respect to the “Belt & Road International Legal Service Association” initiated and established by Grandall, Magnusson also expressed its full recognition and hoped it could contribute to the development of the association along with Grandall and offer full professional services for the “Belt and Road”. Mr. Carl-Fredrik Hedenström, partner of Magnusson in charge of Chinese business, and Ms. NIU Wenpeng, senior counsel of Magnusson, also joined the discussion and the signing ceremony.
Magnusson was established in 2003. With offices in twelve Baltic Sea countries (including Sweden, Denmark, Finland, Norway, Germany, Poland, Russia, Ukraine, Belarus, Estonia, Latvia and Lithuania), it is the largest commercial law firms in this region and offers high-quality seamless legal services to its clients. Magnusson now consist of 15 offices and approximately 200 lawyers in the world. Its honors and awards in recent years include MPF Awards for Management Excellence, Swedish Law Firm of the Year (for three consecutive years), British Legal Awards (for three consecutive years), Nordic Law Firm of the Year and Poland Law Firm of the Year.
In the meantime, Grandall will officially launch its presence in northern European legal market by establishment of an office in Stockholm. By doing so, Grandall will become the first Chinese law firm having a branch in Stockholm.
Currently, Sweden has been ranked as the most creative nation in the world. Both of its creativity and company competitiveness are particularly outstanding. Nasdaq Europe (founded in May, 2007) is also located in Sweden. It controls stock markets of Sweden, Denmark, Iceland, Finland, Lithuania, Estonia, Latvia and other countries and has established cross-region collaboration with Norwegian stock exchange. Moreover, the Arbitration Institute of Stockholm Chamber of Commerce in Sweden is a time-honored and important organ for arbitration of international economic dispute. In the future, Grandall Stockholm will not only interconnect the existing foreign services of Grandall’s global offices, but also strive to expand business in northern Europe in relation to commercialization of researches and innovations, arbitration before the Arbitration Institute of the Stockholm Chamber of Commerce, public offering on NASDAQ, and deals relating to the “Belt and Road” initiative.
In addition, as the “16+1” mechanism gradually improves, China has built a comprehensive, broad and multi-level cooperation with CEE countries, and the economic and trading ties between the two sides became increasingly closer. The cooperation between Grandall and Magnusson enables Grandall to participate in such national strategy and contribute to the fulfillment of the “16+1” mechanism and the “Belt & Road” through its Stockholm office and Magnusson’s offices in major CEE countries (such as Magnusson Poland).
In recent years, Grandall has been stably carrying out its international strategic distribution and already established offices in Hong Kong, Paris, Madrid and Silicon Valley. In September, 2016, Grandall entered into cooperation agreements respectively with two prominent Australian law firms.
With offices in 25 major cities in the world, Grandall is one of the largest professional service provider in China and offers the most professional services in areas of investment and financing, especially the capital market.